Gamma Knife Devices Market Size and Growth Rate:
“The Global Gamma Knife Devices Market was valued around US$ 182.9 Mn by 2018 and growing at a significant CAGR of 10.2% over next seven years 2019-2025 due to growing acceptance of gamma knife devices in surgery centers”
Gamma Knife Devices Market Growth Drivers and Restraints:
The global gamma knife devices market accounted for US$ 182.9 Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors influencing the market growth include increasing occurrence of cancer together with growing aging population, rising acceptance of these instruments in surgery centers, increasing number of initiatives undertaken by several government associations, growing preference towards non and minimally invasive procedures and technological improvements in the device. In addition, there is an increase in global occurrence of neurological diseases such as epilepsy and brain tumor. In 2017, approximately 7, 00,000 people suffer from brain tumor in the U.S., and almost 80,000 new primary brain tumor cases are likely to be detected every year, according to data published by American brain tumor association. However, high maintenance and installations costs and severe rules regarding the approval of this system are the factors hindering the market growth.
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Brain Metastases dominate the Global Gamma Knife Devices Market
Based on application, global gamma knife devices market is segmented into arteriovenous malformations, trigeminal neuralgia, cancer, brain metastases and others. Brain Metastases held considerable market growth during estimated period. Metastatic brain tumors are the most common intracranial neoplasm in adults. It is estimated that over 25% of all cancer patients will be diagnosed with metastatic brain. Gamma Knife radiosurgery is highly effective even for brain metastases that are otherwise resistant to conventional fractionated external-beam radiation therapy. Gamma knife treatment process results in less traumas and sooner recovery as compared to open surgeries. It helps reduce hospital stays, therefore ensuring economic viability and reduction in medical expenses.
Asia Pacific Leads the Global Gamma Knife Devices market
PBI’s global gamma knife devices market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global gamma knife devices market with considerable CAGR. The growth in this region can be due to developments in healthcare infrastructure, robust acceptance of gamma knife in emerging countries like India and China and rising incidence of cancer. Also, high incidence of brain tumor is the other factor responsible for the market growth in the region. Further, North America held significant market share during estimated period owing to increasing purchasing power in the region influenced gamma knife devices growth substantially.
Strategic Approvals are the Key Strategies Adopted by Market Players
Global gamma knife devices market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In June 2016, Elekta got approved for Elekta’s Leksell Gamma Knife® Icon™ for clinical use by both the Japanese Ministry of Health, Labour and Welfare and the Nuclear Regulatory Commission in the United States.
Key player’s profiles in the report are Elekta AB., Varian Medical Systems Inc., Masep Medical Science & Technology Development (Shenzhen) Co., Ltd., ET Medical Group (China), Cyber Medical Systems Inc. and Huiheng Medical Inc.
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